Introducing the First Latino Credit Union to Help Against Payday Advances

Historical archive, first published 2006 — payday-lending laws and rates have changed since. Preserved for the record.

The Comunidad Latina Federal Credit Union (Comunidad Latina FCU) will celebrated its grand opening of its branch in the heart of Santa Ana’s Latino community yesterday.

As is the case with any credit union, this organization will offer financial assistance to clients when it comes to issues such as payday cash loans. This is the first Latino-oriented, non-profit group to provide financial an alternative to check cashing for Orange County’s rapidly growing Latino community.

For assistance with various kinds of instant payday loans, visit the center located at 1317 West Warner Ave. (at Bristol St.), Santa Ana, 92704.

Reasons for financial, payday loan help: These days, many Latino families utilize check cashing and cash advance services, which charge a fee to cash a check and require repayment with interest rates of 12% or more.

By contrast, Comunidad Latina FCU will offer its Members free check cashing services and savings accounts, while offering payday advances at reasonable rates. Like all credit unions, Comunidad Latina FCU is owned by its members and operates for their financial benefit.

Its deposits are federally insured, and its services are available to anyone residing in the Santa Ana area.